Share Class
LU2799473397
Granting privileged access to diversified private equity opportunities
- A semi-liquid, open-ended Fund suitable for professional investors, offering flexibility, liquidity, and efficiency by being fully invested from Day 1.
- Strategic partnership with experienced private equity player to benefit from specifically selected co-investments.
- Significant investments through Carmignac’s balance sheet to access opportunities at negotiated conditions while ensuring alignment of interests.
Key documents
Risk Indicator
1
2
3
4
5
6
7
Lowest risk
Highest risk
Recommended Minimum Investment Horizon
5 years
Cumulative Performance since launch
Cumulative Performance 10 YearsCumulative Performance 5 YearsCumulative Performance 3 YearsCumulative Performance 12 Months
+ 40,7 %
-
-
-
+ 11,7 %
To 31/07/2026
Calendar Year Performance 2016Calendar Year Performance 2017Calendar Year Performance 2018Calendar Year Performance 2019Calendar Year Performance 2020Calendar Year Performance 2021Calendar Year Performance 2022Calendar Year Performance 2023Calendar Year Performance 2024Calendar Year Performance 2025
-
-
-
-
-
-
-
-
+ 25,3 %
+ 7,6 %
Net Asset Value
€140.71
Asset Under Management
159 M €
SFDR - Fund Classification
Article
8
Data as of: Jul 31, 2026.
Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The Fund presents a risk of loss of capital.
The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Sustainable Finance Disclosure Regulation (SFDR) 2019/2088. The SFDR classification of the Funds may change over time.
The strategy in a nutshell
Discover the Fund’s main features and benefits through the words of the Fund Managers.
Fund Management Team
Edouard BOSCHER
Head of Private Equity
Megan Noelle CHEW
Portfolio Manager
Alexis DE CHEZELLES
Portfolio Manager
Carmignac has always been committed to granting its distribution partners access to sophisticated investment strategies for their clients. In this context, Private Equity is a natural evolution and we have leveraged Carmignac’s expertise to deliver a quality investment solution.
Edouard BOSCHER
Head of Private Equity
Carmignac Private Evergreen fund performance
Take a look at the Fund's performance supported by our Fund managers’ market commentary and strategy insight.
Our monthly comments
Data as of: Jul 31, 2026.Fund management team
Edouard BOSCHER
Head of Private Equity
Megan Noelle CHEW
Portfolio Manager
Alexis DE CHEZELLES
Portfolio Manager
Performance commentary
- In July 2026, Carmignac Private Evergreen delivered a negative performance, primarily driven by SpaceX. Following its successful IPO last month, the stock fell 37% in July, weighing significantly on the portfolio. However, our decision to hedge a significant part of our exposure helped mitigate the impact of the decline. The depreciation of the US dollar also weighed on absolute performance over the month. Elsewhere in the portfolio, Riva and Michigan made a distribution during the month, providing a positive contribution to cash flows.
- Today our portfolio offers exposure to >1,000 companies and is highly diversified across sectors, geographies and vintages, while still maintaining a focus on developed markets and private equity buyouts. The liquid sleeve of the portfolio is close to the target allocation of c.15% and is actively managed and invested in a curated range of Carmignac’s fixed income and credit funds on a no fee basis and has generated more than 4.5% in annualised net returns since the launch of the fund.
Outlook strategy
- Investment Strategy: Focused on Secondaries, Carmignac Private Evergreen allows us to offer a one-stop-shop Private Equity solution for investors looking to build a diversified exposure to high quality buyout companies from Day 1. Our target allocation includes a focus on Secondaries through co-investments featuring attractive terms, combined with direct co-investments to generate alpha. Primary investments will be considered later on in the fund’s life. Secondaries offer an attractive risk-return profile, thanks to the possibility to negotiate discounts and deferred payments and offers numerous benefits such as a reduced J-curve effect and blind-pool risk. It is an asset class with low correlation with both public and other private market strategies, which reiterates the complementarity of public and private strategies within an investment portfolio.
- Outlook: Looking ahead, a diversified LP-led secondary transaction comprising primarily blue-chip European names has been approved, while two direct co-investments are at an advanced stage in the pipeline. The outlook for global private equity secondary investments in 2026 remains constructive, supported by a growing supply of opportunities driven by demand for liquidity, portfolio rebalancing and desire to crystalize gains. While pricing continues to be competitive, the secondary market remains a buyers' market and continues to offer attractive entry points.
Performance Overview
Data as of: Sep 1, 2026.Past performance is not necessarily indicative of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor). The Fund presents a risk of loss of capital.
Morningstar Rating™ : © Morningstar, Inc. All Rights Reserved. The information contained herein: is proprietary to Morningstar and/or its content providers; may not be copied or distributed; and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.
The return may increase or decrease as a result of currency fluctuations, for the shares which are not currency-hedged.
Source: Carmignac at 02/09/2026
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The reference to a ranking or prize, is no guarantee of the future results of the UCIS or the manager.
The information presented above is not contractually binding and does not constitute investment advice. Past performance is not a reliable indicator of future performance. Performances are net of fees (excluding possible entrance fees charged by the distributor), where applicable. Investors may lose some or all of their capital, as the capital in the UCI is not guaranteed. Access to the products and services presented herein may be restricted for some individuals or countries. Taxation depends on the situation of the individual. The risks, fees and recommended investment period for the UCI presented are detailed in the KIDs (key information documents) and prospectuses available on this website. The KID must be made available to the subscriber prior to purchase.). The reference to a ranking or prize, is no guarantee of the future results of the UCITS or the manager.
UAE DIFC and ADGM: for professional clients only. This document is issued by, or communicated on behalf of, Carmignac Middle East Ltd, a company incorporated under the laws of the Dubai International Financial Centre with company number CL 13413 registered at GD-PB-04-01-OF-01-0, Level 1, DIFC Fund Centre, Level POD, Gate District Precinct Building 04, Dubai International Financial Centre, Dubai, United Arab Emirates and regulated by the Dubai Financial Services Authority under reference number F013638.
This document is intended solely for Professional Clients and Market Counterparties, as defined under the applicable rules of the Dubai Financial Services Authority (?DFSA?). It must not be relied upon by, or distributed to, Retail Clients or any other person.
The fund(s) referred to in this document are foreign fund(s) domiciled and regulated in Luxembourg by the Commission de Surveillance du Secteur Financier (?CSSF?). Unless expressly stated otherwise, they are not domiciled in, authorised by, or subject to regulation or approval by the DFSA. The DFSA has not approved, reviewed or verified this document, the prospectus or any other fund documentation, and the authority does not accept responsibility for the information contained in them or for the merits of an investment in the fund(s).
Funds classified as Article [8/9] products under the EU Sustainable Finance Disclosure Regulation (?SFDR?) are subject to an EU classification only, and does not represent a label, approval or endorsement by the Dubai Financial Services Authority or any UAE authority. Funds that pursue ESG related objectives alongside financial objectives do so without any guarantee that such ESG objectives will be achieved. ESG data and indicators may be based on third party sources, estimates and evolving methodologies and should not be viewed as a precise or comprehensive measure of sustainability performance.
The fund(s) may be subject to investment, market, liquidity, currency, credit, counterparty, concentration and other risks as described in the applicable offering documents. Prospective investors should conduct their own due diligence and carefully consider the risks, investment objectives, costs and suitability of an investment before making any decision.
This document is intended solely for Professional Clients and Market Counterparties, as defined under the applicable rules of the Dubai Financial Services Authority (?DFSA?). It must not be relied upon by, or distributed to, Retail Clients or any other person.
The fund(s) referred to in this document are foreign fund(s) domiciled and regulated in Luxembourg by the Commission de Surveillance du Secteur Financier (?CSSF?). Unless expressly stated otherwise, they are not domiciled in, authorised by, or subject to regulation or approval by the DFSA. The DFSA has not approved, reviewed or verified this document, the prospectus or any other fund documentation, and the authority does not accept responsibility for the information contained in them or for the merits of an investment in the fund(s).
Funds classified as Article [8/9] products under the EU Sustainable Finance Disclosure Regulation (?SFDR?) are subject to an EU classification only, and does not represent a label, approval or endorsement by the Dubai Financial Services Authority or any UAE authority. Funds that pursue ESG related objectives alongside financial objectives do so without any guarantee that such ESG objectives will be achieved. ESG data and indicators may be based on third party sources, estimates and evolving methodologies and should not be viewed as a precise or comprehensive measure of sustainability performance.
The fund(s) may be subject to investment, market, liquidity, currency, credit, counterparty, concentration and other risks as described in the applicable offering documents. Prospective investors should conduct their own due diligence and carefully consider the risks, investment objectives, costs and suitability of an investment before making any decision.
Market environment